{"id":120141,"date":"2014-05-23T00:34:23","date_gmt":"2014-05-23T00:34:23","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/?p=120141"},"modified":"2014-05-23T00:34:23","modified_gmt":"2014-05-23T00:34:23","slug":"unite-accuses-royal-mail-fleecing-taxpayers-bumper-operating-430m-profit","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/unite-accuses-royal-mail-fleecing-taxpayers-bumper-operating-430m-profit\/","title":{"rendered":"Unite Accuses Royal Mail Of &#8216;Fleecing&#8217; Taxpayers With Bumper Operating \u00a3430m Profit"},"content":{"rendered":"<div class=\"row-fluid\">\n<p class=\"lead\" style=\"font-weight: bold; font-style: italic; color: #9b1f26;\">The first set of Royal Mail results since its controversial floatation see operating profits rise to \u00a3430m, up from \u00a3403m in 2013<\/p>\n<hr \/>\n<\/div>\n<p>Royal Mail was yesterday accused of fleecing taxpayers as it announced multimillion-pound profits.<\/p>\n<p>In the service\u2019s first set of results since its controversial \u00a33.3 billion stock market flotation in October 2013, the company said that operating profits after transformation costs were \u00a3430 million in the year to March 30, against \u00a3403m a year earlier.<\/p>\n<p>The figures sparked a fresh row over whether Business Secretary Vince Cable sold the shares too cheaply last year, with unions saying it was now clear that taxpayers had been \u201cfleeced.\u201d<\/p>\n<p>Brian Scott of Unite, which represents 7,000 Royal Mail managers, said: \u201cThe taxpayer has been fleeced. Instead of these profits flowing into the Treasury\u2019s coffers to pay for schools and nurses it\u2019s flowing into the pockets of shareholders, some of whom enjoyed \u2018mates rates\u2019 when Royal Mail was sold off on the cheap.<\/p>\n<p>\u201cUnite members in Royal Mail are paying the price with job losses and the uncertainty is set continue with a massive \u00a3106m set aside to cover \u2018transformational costs\u2019.\u201d<\/p>\n<p><em>Via <a href=\"http:\/\/www.morningstaronline.co.uk\/a-039f-Unite-accuses-Royal-Mail-of-fleecing-taxpayers-with-bumper-operating-430m-profit\/#.U36XmfldX9U\" target=\"_blank\">Morning Star<\/a>\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first set of Royal Mail results since its controversial floatation see operating profits rise to \u00a3430m, up from \u00a3403m in 2013 Royal Mail was yesterday accused of fleecing taxpayers as it announced multimillion-pound profits. In the service\u2019s first set of results since its controversial \u00a33.3 billion stock market flotation in October 2013, the company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487],"tags":[],"class_list":{"0":"post-120141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/120141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=120141"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/120141\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=120141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=120141"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=120141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}